Treatment Of CST
This query is : Resolved
16 January 2010
While purchasing we include cst in cost of item, while selling shall it be included in sales or shall it be bifurcated from sales?
If it shall be bifurcated from sales then , in which group shall it be included, in Duties & Taxes or in any other group?
If it shall be bifurcated from sales then , in which group shall it be included, in Duties & Taxes or in any other group?
16 January 2010
If sale price is Rs. 112 and include 12 rs cst then entry is
Debtor Dr. 112
to Sales Cr 100
To CST payable (Current Liab)cr 12
Debtor Dr. 112
to Sales Cr 100
To CST payable (Current Liab)cr 12
Message likes :
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16 January 2010
Thank you Sir,
am i right, that cst on purchase shall be included in cost of item and there is no need of its bifurcation from sales?
am i right, that cst on purchase shall be included in cost of item and there is no need of its bifurcation from sales?
17 January 2010
Dear,
CST included in purchases need not be bifurcated, as full invoice value is cost of that item.
Cheers!
CST included in purchases need not be bifurcated, as full invoice value is cost of that item.
Cheers!
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